|
|
|
| |
| SSANGYONG MOTOR COMPANY |
| STATEMENTS OF INCOME FOR THE
YEARS ENDED DECEMBER 31, 2004 AND 2003 |
 |
|
| |
Korean
Won |
Translation
into
U.S. Dollar |
| |
2004 |
2003 |
2004 |
2003 |
| SALES
|
 3,297,855,323 |
3,281,451,843 |
$ 3,159,471 |
$ 3,143,755 |
| COST
OF SALES |
2,665,962,860
|
2,475,695,548 |
2,554,094 |
2,371,810 |
| GROSS
PROFIT |
631,892,463
|
805,756,295 |
605,377 |
771,945 |
| SELLING
AND ADMINISTRATIVE EXPENSES |
600,849,611
|
516,179,828 |
575,637 |
494,520 |
| OPERATING
INCOME (LOSS) |
31,042,852 |
289,576,467 |
29,740 |
277,425 |
| OTHER
INCOME (EXPENSES) : |
Interest
income |
8,431,539
|
16,920,237 |
8,078 |
16,210 |
| Interest expense |
(37,367,700)
|
(49,234,300)
|
(35,800)
|
(47,168) |
| Reversal of allowance for doubtful accounts, net |
31,503,989
|
115,040,929 |
30,182 |
110,214 |
| Loss on disposal of
trading securities |
- |
(6,647) |
- |
(6) |
| Gain using the equity method, net |
-
|
58,711 |
- |
56 |
| Loss on disposal of investments, net |
(12,342,038)
|
(4,734,678) |
(11,824)
|
(4,536) |
| Loss on disposal of available-for-sale securities |
(2,578,332) |
- |
(2,470) |
- |
| Gain using the equity method, net |
283,249 |
- |
271 |
- |
| Loss on valuation of inventories |
- |
(2,664,428) |
- |
(2.553) |
| Impairment loss of property, plant and equipment |
(3,021,785)
|
(12,293,449)
|
(2,895)
|
(11,778) |
| Recovery of impairment loss of property, plant and equipment |
17,767,566
|
- |
17,022 |
- |
| Gain (loss) on foreign
currency transactions, net |
2,208,550 |
(4,639,726) |
2,116 |
(4,445) |
| (loss) on foreign currency translation, net |
(1,137,571)
|
(5,752,169)
|
(1,090) |
(5,511) |
| Reparation for product warranty expenses |
16,620,007
|
11,364,446 |
15,923 |
10,888 |
| Depreciation expense on assets not in use |
(174,022)
|
(251,442) |
(167) |
(241) |
Fees earned
|
6,535,495
|
5,497,202 |
6,261 |
5,267 |
| Gain on liabilities exempted |
- |
5,594,966 |
- |
5,360 |
Donations
|
(1,013,460)
|
(1,066,969)
|
(971)
|
(1,022) |
Others, net
|
(537,132)
|
(4,557,349) |
(514)
|
(4,366) |
| |
25,137,336 |
65,653,154 |
24,083 |
62,899 |
| ORDINARY
INCOME |
56,180,188 |
355,229,621 |
53,823 |
340,324 |
EXTRAORDINARY INCOME
|
|
|
|
|
Gain on liabilities exempted
|
-
|
5,627,332 |
- |
5,391 |
INCOME BEFORE INCOME TAX
|
56,180,188 |
360,856,953 |
53,823 |
345,715 |
| INCOME TAX EXPENSE (BENEFITS) |
44,791,451 |
(228,838,866) |
42,912 |
(219,236) |
| NET INCOME |
11,388,737 |
589,695,819 |
$10,911 |
$564,951 |
ORDINARY INCOME PER SHARE
|
94 |
4,849 |
$ 0,09 |
$ 4,65 |
EARNINGS
PER SHARE
|
94 |
4,849 |
$ 0,09 |
$ 4,68 |
|
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|
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